Mixed Magic

There is nothing mixed about the reception that today’s dominant format—mixed-use developments—is receiving. Indeed, it has only been positive. Below and on the following pages, you’ll see some of the country’s most magical mixed-use projects.

Located on a 3,790-acre parcel of land with $30 million of new infrastructure, including 29 acres of lakes, new community parks and four miles of new roads, The Market Common, Myrtle Beach project is the first phase and the focal point of the redevelopment program approved by the Myrtle Beach Air Force Base Redevelopment Authority and the City of Myrtle Beach, S.C. The 121-acre development will feature dining, retail, entertainment and hospitality surrounded by landscaped parks, lakes and a public square, as well as thousands of luxurious residential options.

The Market Common, Myrtle Beach

Location: Farrow Parkway in Myrtle Beach, S.C.Size: 600,000 sq. ft. of retail, restaurants, health club and health services, and office space; 181 luxury rental apartments, and 1,441 townhomes and condominiumsDeveloper: Joint venture between McCaffery Interests and the City of Myrtle Beach, S.C.Major tenants: Tommy Bahama Restaurant and Store, P.F. Chang’s China Bistro, Pottery Barn, Barnes & Noble, Consolidated Theatres, Piggly Wiggly, Williams-SonomaStatus: Construction is under way, with a completion date and grand opening slated for April 2008.

Though this part of Atlanta has been underserved with retail and restaurant options, and has been completely dependent on the automobile for decades, Brookhaven Village will soon offer its visitors and residents a chance to embrace the new urbanism concept. At Brookhaven Village, visitors can leave their cars behind and stroll along landscaped pathways from the movie theater to a restaurant, a bookstore and a coffee shop.

Sembler has demonstrated its willingness to break the retail-only mold, which is proving to be good not just for the communities where its projects are located, but for the retail-development industry itself.

Brookhaven Village

Location: AtlantaSize: 1,200 residential units (apartments/condos, townhouses); 600,000 sq. ft. of retail; five-story, 150,000-sq.-ft. office tower—on a 50-acre siteDeveloper: The Sembler Co.Major tenants: In negotiations with grocery, department stores, major fine- and casual-dining restaurants, soft goods, electronics, a health club/gym and community servicesStatus: Site work launched summer 2007.

Highland Row is an exciting, new mixed-use retail and residential community to be located in the heart of Memphis, Tenn., close to the city’s largest institution of higher education, the University of Memphis. Uniquely integrating a collection of retail opportunities with distinctive housing options like nothing else in the market, Highland Row is anticipated to be the primary shopping, dining and residential destination of choice in one of the highest-income trade area corridors in the entire Memphis MSA.

Engaging a sense of place with the character and community fabric of a traditional neighborhood, coupled with the vibrant lifestyle of uptown living, Highland Row is designed to be a place where life meets style.

Highland Row

Location: Memphis, Tenn.Size: 97,000 sq. ft. of retail and restaurant, and 220,000 sq. ft. of residentialDeveloper: Poag & McEwen Lifestyle CentersMajor tenants: To be announcedStatus: Construction will commence fall 2007, with a grand opening slated for fall 2008.

CityScape is a $1 billion investment in the heart of downtown Phoenix, integrated across three city blocks. It is also at the heart of a downtown renaissance that includes a light rail (three stops within a block), a new downtown Arizona State University campus, an expanded convention center (top 20 in the country), a biomedical campus, new hotels, additional residential and other new projects.

Retail demand in downtown is estimated at more than 400,000 sq. ft., and CityScape will be able to provide only 60% of that need. Retail will focus on the needs of downtown (i.e., grocery, pharmacy) and unique urban experiences that aren’t currently found in the fourth-largest city in the country.

CityScape

Location: Downtown Phoenix (three city blocks between 1st Avenue to the west, 2nd Street to the east, Washington Street to the north and Jefferson Street to the south)Size: 2.5 million total sq. ft., with approximately 250,000 sq. ft. of retail. Total uses include—besides retail—restaurant, office, residential (condos and apartments), hospitality and a public park.Developer: RED Development, CDK Partners, Barron Collier Cos. and Novare GroupMajor tenants: P.F. Chang’s, AJ’s Fine Foods, in discussions with several national “urban” retailers and high-end restaurant conceptsStatus: Groundbreaking September 2007, with Phase 1 completion during fourth-quarter 2009 and total project completion estimated for 2011

The Spotsylvania Towne Centre project is a hybrid retail development, mixing a successful regional mall with an all-new, luxury-oriented lifestyle center. The expansion of the shopping center includes a new food court, which will serve as the gateway to the lifestyle center.

The lifestyle center is modeled after Downtown Fredericksburg, with architectural designs that are indicative of Colonial and Civil War-era buildings. This will be a mixing of 18th- and 19th-century elegance with outstanding 21st-century retail excellence.

Spotsylvania Towne Centre

Location: Fredericksburg, Va. (intersection of Interstate 95 and Route 3)Size: Currently 1.5 million sq. ft. (1.7 million after lifestyle addition)Developer: CafaroMajor tenants: Macy’s, Sears, Costco, Belk; coming soon is Muvico Theater, Residence Inn HotelStatus: Interior renovation is complete and construction of the lifestyle center is under way.

A long Florida’s tropical coast arises what promises to be the “Soho of South Florida”—a new world-class destination. Located just a mile from pristine beaches, The Village at Gulfstream Park will immerse guests in a lavish Mediterranean experience of lush gardens, inviting streetscapes and striking architectural details. Stretching over 55 acres in Hallandale Beach, Fla., midway between Fort Lauderdale and Miami, the Village at Gulfstream Park combines the excitement of horse racing with the relaxation and elegance of an upscale shopping and lifestyle destination. Anchored by the famous Gulfstream Park thoroughbred racetrack and casino, the Village at Gulfstream Park will feature elegant retailers.

A ceremonial walking ring, where horses parade prior to the race, seamlessly connects the Village to the Clubhouse. This unique village also includes a residential component that, upon completion, will overlook the picturesque racetrack, Florida’s Intracoastal Waterway and the Atlantic Ocean.

The Village at Gulfstream Park

Location: Hallandale Beach, Fla.Size: 3.5 million sq. ft., with 750,000 sq. ft. of retail, 140,000 sq. ft. of office, 2,500-seat cinema, 500-room hotel, 1,500 residential units, clubhouse and casinoDeveloper: Forest City Enterprises and Magna Entertainment Corp. (MEC)Major tenants: Gulfstream Park, a premier thoroughbred racetrack that is home to the Florida Derby, a casino and restaurants, is the main anchor. While not a traditional “tenant,” its adjacency and connectivity to the center make it an integral component.Status: Groundbreaking in summer 2007, with completion of Phase 1 expected in fall 2008

Grove at Wesley Chapel will be the first retail, restaurant and entertainment complex of its kind to come to Pasco County, featuring a 16-screen Cobb Theatre megaplex that will feature a premium component in addition to its traditional theater experience. The downstairs will include a large lobby and box office, 16 screens and a cafeteria-style snack bar that will allow patrons to walk through and select snacks and drinks.

When completed in 2008, the Grove at Wesley Chapel will accommodate more than 90 retail tenants, including large-format specialty retailers, restaurants and national entertainment chains.

Grove at Wesley Chapel

Location: Wesley Chapel, Fla. (along the west side of Interstate 75 in Pasco County, just north of S.R. 54)Size: First phase is more than 327,666 sq. ft.; second is more than 207,590 sq. ft.; third phase is 176,174 sq. ft. Uses include retail, restaurant, office and entertainment.Developer: ECHO Real Estate Services. Equity partner is Cornerstone Real Estate Advisers, with financing provided by Anglo Irish Bank.Major tenants: Bed Bath & Beyond, Best Buy, Dick’s Sporting Goods, Michaels, PetSmart, Ross Stores, ULTA, Babies “R” Us, Toys “R” Us, T.J. Maxx, 16-screen Cobb Theatres megaplexStatus: Construction is currently under way and on schedule for Phase 1 to be completed in fall 2007. Phases 2 and 3 to follow.

PREIT took a mall with two vacant anchor stores and waning occupancy and redeveloped the property by demolishing the two vacant stores, “right sizing” the mall and renovating and rejuvenating the property into a town center that features residential, retail and office space and that complements a smaller, revitalized enclosed mall in one of the fastest-growing cities in New Jersey.

Voorhees Town Center’s primary trade area represents a population of nearly 300,00—and the percentage of households earning $75,000 to $99,900 is expected to grow more than 30% in the next five years, while the percent of households earning $100,000 or more is expected to grow 54.6%.

Voorhees Town Center

Location: Voorhees, N.J.Size: 260,000-sq.-ft. mall anchored by Macy’s and Boscov’s, 145,000 sq. ft. of street retail shops, a 65,000-sq.-ft. grocery store, and 425 luxury apartments and condominiumsDeveloper: Pennsylvania Real Estate Investment Trust (PREIT) and Dewey Commercial (for residential component)Major tenants: A 224,000-sq.-ft. Macy’s and a 173,000-sq.-ft. Boscov’sStatus: Mall renovation to be completed by holiday 2007; residential and street retail to open summer 2008 and residential to be completed by 2010.

Totem Lake Malls, in the Seattle MSA, boasts an excellent location, demographics and tenant mix. The demand for centers that provide mixed-use opportunities translates into a successful marriage of automatic customers for the retail, entertainment and dining components of the center. The Seattle area also has challenges with regard to new retail developments (little available land for new development, booming housing industry, etc.), so redevelopments work well with the area’s needs and availability.

Totem Lake Malls benefits from tremendous visibility and access from Interstate 405, a primary north/south freeway with approximately 121,000 vehicles per day passing by the site. Currently, the center tenant mix includes Trader Joe’s, Hallmark, Big 5 Sporting Goods, Car Toys, Famous Footwear, Ross Dress for Less and a mix of service providers and specialty retailers; redevelopment plans include re-tenanting with specialty retailers, entertainment, restaurants, offices and living components.

Totem Lake Malls

Location: Kirkland, Wash.Size: 585,000 sq. ft. (redeveloped); uses include retail, entertainment, dining, office and residentialDeveloper: Developers Diversified Realty and Coventry Fund II Totem Lakes LLCMajor tenants: Existing center includes Ross Dress for Less, Trader Joe’s; presently negotiating leases with lifestyle-center type tenants for redevelopmentStatus: Expected date of completion is 2011.

New Town Shops on Main resides in the heart of historic Williamsburg, Va.—and is nestled in a 365-acre, new-urbanism lifestyle community. The mixed-use development features 1.7 million sq. ft. of retail, office, research and development, entertainment, residential, industrial and civic space. In addition, there will be two public squares and a network of hiking and biking trails.

New Town Shops on Main, the lifestyle component, already houses a powerful group of co-anchors—including a 12-screen stadium-style Consolidated Theater that brings 50,000 people per month to the center.

Retailers at New Town Shops on Main are taking advantage of the area’s upscale population, the many employees working within a few minutes of the center, the annual tourist trade and the powerful co-tenancies—making the center a model of new urbanism.

New Town Shops on Main

Location: Williamsburg, Va.Size: 253,000-sq.-ft. retail center in the heart of a 365-acre mixed-use community featuring 1.7 million sq. ft. of specialty retail, office, residential and entertainment venuesDeveloper: Developers Realty Corp.Major tenants: New Town Cinemas, Barnes & Noble, Old Navy, Ann Taylor Loft, Chico’s, Justice, Pac Sun, Panera Bread, Maggie Moo’s, Cacique, Foot Locker, Bonefish Grill, White House/Black Market, J. Jill, Victoria’s SecretStatus: Open

A joint venture of W/S Development and National Development, Meadow Walk at Lynnfield is a 680,000-sq.-ft. mixed-use project, consisting of 395,000 sq. ft. of lifestyle retail, high-end restaurants and an organic grocer. The project will also include 200,000 sq. ft. (180 units) of luxury residential and 80,000 sq. ft. of office space located above Main Street.

With a design inspired by Kierland Commons and Easton Town Center, Meadow Walk at Lynnfield will be comparable to W/S Development’s Derby Street Shoppes (Hingham, Mass.), which is currently generating $540 per square foot in its second full year.

The development is uniquely located to serve Massachusetts’ affluent North Shore market and offers incredible access and tremendous visibility from Route 128, including 3,600 ft. of frontage spanning two exits along Route 128/I-95. Also included on the property are the 280-room Sheraton Colonial Hotel and the Boston Sports Club Lynnfield.

Meadow Walk at Lynnfield

Location: Lynnfield, Mass. (427 Walnut St.)Size: 680,000 sq. ft.; uses include retail, luxury residential and officeDeveloper: W/S Development, in a joint venture with National DevelopmentMajor tenants: Whole Foods MarketStatus: Opening summer 2009

The Golden Triangle will boast a unique Main Street design, creating a shopping and entertainment mecca that will allow customers to enjoy their experience shopping, eating at a white tablecloth restaurant or relaxing and sipping a cup of coffee at a street side cafe.

Located at the merger of two major interstate freeways—I-215 and I-15—the project will enjoy great visibility and accessibility, as these freeways are traveled by more than 203,000 daily commuters, representing more than 6 million potential shoppers a month. John Potts, president of the Urban Land Institute, Inland Empire Counsel, stated, “This is the last of this kind of real estate that is available for development in Southern California.” Located in Southwest Riverside County, the second-fastest growing county in the nation, the trade area is projected to grow by 23% in the next five years.

The Golden Triangle

Location: Murrieta, Southern California, at the intersection of Interstates 15 and 215Size: 1.3 million sq. ft. of retail, restaurant, entertainment, Class A office space, fitness components, and a four-star hotel and conference facilityDeveloper: Domenigoni Barton Properties and The Garrett Group, LLCMajor tenants: In negotiations with nationally known, sit-down dining establishments that will be first to market, such as P.F. Chang’s, Maggianos and Lucille’s BBQ. The project will also feature a bookstore, multiscreen cinema, fitness facility and a gourmet grocery store, as well as a best-in-class lineup of apparel retailers such as Chico’s, J. Jill, Talbots and Coldwater Creek, typically found in lifestyle projects.Status: Estimated commencement is fourth-quarter 2008, with opening of the first phase (600,000 sq. ft.) in October 2009.

Grand Station at Centerra will offer northern Colorado shoppers the region’s only vertical mixed-use project. The development will include retail, office, dining, entertainment, hospitality, health and wellness, and residential uses as well as an array of amenities such as a rail streetcar, a children’s area and a Grand Square with features such as a fire pit and performance area.

Located within master-planned community Centerra, Grand Station at Centerra will be LEED-certified. The design is based on northern Colorado’s railway history and other local influences. The property’s proximity to Interstate 25—positioned at the major turnoff to the Rocky Mountain National Park—makes it a natural attraction to the 100,000-plus cars that drive by each day.

Grand Station at Centerra

Location: Loveland, Colo.Size: Approximately 1 million sq. ft. on 60 acres, comprised of 480,000 sq. ft. of retail, dining and entertainment, 145,000 sq. ft. of office and 100,000 sq. ft. of medical; other uses include residential and hotelsDeveloper: McWhinney EnterprisesMajor tenants: Anchored by boutique hotelier Hotel Valencia, Courtyard by Marriott and health-and-fitness center Club One; retail lineup to be announcedStatus: Anticipated grand opening is fall 2009.

Garrett Ranch is a stunning, 200-acre, mixed-use urban village with unique shopping districts, pedestrian-friendly boulevards, magnificent water features and inspired architecture.

Located in the heart of Riverside County, the fastest-growing county in California and the second-fastest growing in the nation, the City of Hemet’s growth is expected to outpace the county’s growth. With 54,500 new homes approved for the area, Hemet will enjoy a population increase of 111% and will become the 11th largest city in California.

The amenities and village atmosphere of Garrett Ranch will encourage casual meetings, window-shopping and community events throughout the day and into the evening, providing shoppers with a variety of environments and experiences. Garrett Ranch will become a new destination landmark of the Inland Empire.

Garrett Ranch

Location: City of Hemet, San Jacinto Valley, Calif., at Highway 74Size: 1 million-plus sq. ft., featuring a unique combination of big-box retail, entertainment, galleries, restaurants, department stores, specialty boutiques, offices and residential neighborhoodsDeveloper: The Garrett Group, LLCLeasing and development services: Jones Lang LaSalleMajor tenants: In negotiations with traditional department stores such as J.C. Penney and Gottschalks. A stadium-style multiscreen cinema will be joined by beautifully waterscaped dining areas with restaurants such as California Pizza Kitchen and lifestyle retailers such as Victoria’s Secret and Bath & Body Works. The project will include a traditional grocery store, big-box retailers such as Best Buy, Bed Bath & Beyond, and Barnes & Noble.Status: Estimated commencement is late 2008, with opening scheduled for fall 2009.

Convenience. Character. Community. All three are an integral part of a dynamic, new, mixed-use concept debuting this fall in Baton Rouge, La. It’s called Perkins Rowe—and it blends shopping, entertainment, office and residential living into a sophisticated urban-village environment.

Perkins Rowe features town squares, tree-lined streets, and shops, cafes and restaurants within walking distance of each other and linked by pedestrian-friendly sidewalks. Above it all are spacious—and luxurious—condominiums and lofts.

The architectural style of Perkins Rowe is both Old South and urban contemporary, featuring a mix of building types and designs. Some exteriors have the appearance of having been renovated, while others have retained an older style and charm—recreating the natural evolution of a downtown area, or “urban authenticity.”

Perkins Rowe, opening in fall 2007, will bring a unique intimacy of design and a strong sense of community to Louisiana’s capital city.

Perkins Rowe

Location: Baton Rouge, La.Size: 2 million sq. ft., when complete, of retail, restaurants, office, residential, medical, hotels, theater and groceryDeveloper: JTSMajor tenants: 85% pre-leased, a short list of Perkins Rowe tenants includes Cinemark Theatres, The Fresh Market, Barnes & Noble, Z Gallerie, Guess, Anthropologie, Bally Total Fitness, BCBG Max Azria, Kona Grill, California Pizza Kitchen, Urban Outfitters and J. Crew.Status: Completion date for Phase 1 is fall 2007; completion date for Phase 2 is fall 2008.

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